VERSABANK RECOGNIZED FOR CONTINUING LEADERSHIP IN BANKING TECHNOLOGY
– Bank Named CIO Awards Canada Winner by IDC and CIO –
CIO Awards Canada recognized VersaBank for its Capital Adequacy Requirement (CAR) project.
For this project, VersaBank moved the core CAR logic into a serverless function in the cloud, which resulted in ultra-fast computing and without impairing any of the demands on the bank’s Asset Management System (AMS). The AMS is used to record and track assets (e.g., loans) to judiciously allocate their capital to generate the highest return on common equity.
“We’re delighted to be recognized for our continuing technological innovation, which is the very core of VersaBank’s model as a cloud-based, branchless, business-to-business bank, providing high value-add digital banking solutions to address the unmet needs of our partners throughout
Mr. Koay has shown a remarkable ability to translate the vision for new technology solutions, products and services envisioned by VersaBank management, including Founder David Taylor, and translate them into reality.
“We’re excited to celebrate CIO Awards Canada 2024, which honours Canadian IT organizations for projects driving digital business growth through technology innovation and demonstrating business value. We wish to congratulate this years’ winners as their projects were very inspiring and a true testament of the highly skilled and innovative workforce here in
Every year, CIO recognizes the tech world’s most innovative organizations and accomplished leaders. 2024 will be the third year for this popular awards program, where CIO Awards Canada have recognized innovative Canadian tech projects and teams.
About IDC
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,300 analysts worldwide, IDC offers global, regional, and local expertise on technology, IT benchmarking and sourcing, and industry opportunities and trends in over 110 countries. IDC’s analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly owned subsidiary of International Data Group (IDG), the world’s leading tech media, data, and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC and LinkedIn. Subscribe to the IDC Blog for industry news and insights. To learn more about IDC Canada, please visit www.idc.com/ca or follow us on LinkedIn.
About CIO
CIO focuses on attracting the highest concentration of enterprise CIOs and business technology executives with unparalleled peer insight and expertise on business strategy, innovation, and leadership. As organizations grow with digital transformation, CIO provides its readers with key insights on career development, including certifications, hiring practices and skills development. The award-winning CIO portfolio provides business technology leaders with analysis and insight on information technology trends and a keen understanding of IT’s role in achieving business goals. CIO is published by Foundry (formerly IDG Communications, Inc.) Company information is available at Follow CIO on Twitter: @CIOonline & @CIOevents Follow CIO on LinkedIn Follow CIO on Facebook.
About the CIO Awards Canada
The CIO Awards for
About VersaBank
VersaBank is a North American bank (federally chartered in
VersaBank’s Common Shares trade on the Toronto Stock Exchange (“TSX”) and Nasdaq under the symbol VBNK. Its Series 1 Preferred Shares trade on the TSX under the symbol VBNK.PR.A.
Visit our website at: www.versabank.com
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